Welcome to our dedicated page for Sabre Corporation news (Ticker: SABR), a resource for investors and traders seeking the latest updates and insights on Sabre Corporation stock.
Sabre Corporation (NASDAQ: SABR) is a leading software and technology provider dedicated to the global travel industry, boasting nearly US$8 trillion in industry reach. Sabre’s comprehensive suite of technology solutions empowers airlines, hotels, travel agencies, and various travel suppliers to grow their businesses and innovate the traveler experience. The company's open and stable platform ensures flexibility, reliability, and scalability for clients, making Sabre an industry powerhouse.
Headquartered in Southlake, Texas, Sabre is committed to transforming the travel ecosystem through advanced technology. Their services include data-driven business intelligence, mobile solutions, distribution channels, and software as a service (SaaS) offerings. Over the years, Sabre has pioneered several industry-changing technologies such as online travel agencies, corporate booking tools, revenue management systems, and web and mobile itinerary tools.
Sabre's business is structured into two primary segments: Travel Solutions and Hospitality Solutions. The Travel Solutions segment, which accounted for 91% of total 2023 revenue, encompasses distribution (78% of segment sales) and airline IT solutions (22%). Meanwhile, the Hospitality Solutions segment, although smaller, is rapidly growing and represented 9% of the 2023 revenue. Sabre's marketplace transacts more than a billion travel-related transactions annually, holding the second-largest air booking volume share in the global distribution system industry.
Recent achievements for Sabre include strategic agreements and partnerships to extend their technological offerings. For instance, Sabre recently signed a multi-year agreement with Air Serbia, enhancing the airline's revenue management with Sabre's Pricing and Revenue Optimization suite. The company also made significant strides in financial restructuring, such as the exchange of $150 million in 4.000% exchangeable senior notes due 2025 for new 2026 notes, thereby optimizing its debt profile.
Sabre's ongoing projects reflect its focus on innovative solutions. The introduction of SabreMosaic™, a new intelligent, modular, and open technology platform, aims to transform airline retailing by adopting a modern Offer and Order approach. This platform, powered by Google Cloud's AI capabilities, facilitates dynamic and personalized content delivery to travelers, enhancing revenue opportunities for airlines.
Sabre's consistent efforts in technological advancements and strategic partnerships ensure its prominent position in the travel technology sector and its commitment to revolutionizing the travel experience for consumers worldwide.
Sabre Corporation announced the upsizing and pricing of a $555 million offering of 11.250% senior secured notes due 2027, increasing by $20 million from the previous amount. The sale is expected to close on December 6, 2022. Interest on the notes will be paid semi-annually, and the net proceeds will be used to repay approximately $536 million of existing debt due in 2024. The offering is being made to qualified institutional buyers and non-U.S. persons. The notes will be secured by a first-priority interest in substantially all of Sabre GLBL's assets.
Sabre Corporation (NASDAQ: SABR) has partnered with Girls Who Code (GWC) to support gender equity in technology. This sponsorship focuses on empowering girls in grades 3-12 through after-school coding clubs. Additionally, GWC's collegiate program helps women build confidence and skills in tech careers. Chief People Officer Shawn Williams emphasized the importance of diversity in Sabre's workforce. The collaboration encourages Sabre employees to engage in GWC events and further supports initiatives aimed at creating equitable technology opportunities.
Sabre Corporation (NASDAQ: SABR) has announced a new Premium Solution Partnership with Trava to automate post-booking processes for travel agencies. This partnership aims to enhance efficiency and profitability by providing a no-code process automation solution that can decrease manual workload by over 70% and increase profits by approximately $5 per PNR. Trava's technology will be available to Sabre-connected travel agencies in North America and EMEA, helping them improve customer experiences and manage operational challenges more effectively.
Sabre Corporation (NASDAQ: SABR) has announced a new distribution agreement with THAI Smile Airways aimed at enhancing the airline's market reach and supporting its growth strategy. This partnership allows travel agents to access THAI Smile's international content through Sabre's global marketplace, which is critical as tourism in Thailand resumes. Acting CEO Thamanoon Kuprasert emphasized the timing of this deal as pivotal for Thailand's tourism recovery. The agreement coincides with THAI Smile's tenth anniversary, showcasing a commitment to expand their services for leisure and corporate travelers.
Sabre Corporation (SABR) reported its third-quarter 2022 financial results on November 2, 2022. The earnings release, presentation, and prepared remarks are available on its Investor Relations webpage. A live webcast of the earnings conference call is scheduled for today at 9:00 a.m. ET, discussing financial outcomes and future outlook. Sabre, a leading technology provider in the travel industry, manages over $260B in global travel spend and serves customers in more than 160 countries.
On November 1, 2022, Sabre Corporation (NASDAQ: SABR) announced a renewed long-term agreement with Oman Air to enhance its strategic goals. This multi-year renewal includes the SabreSonic Passenger Service System and global distribution system, allowing Oman Air to utilize advanced technology for digital transformation and retailing strategies. By investing in Sabre's Digital Connect APIs, Oman Air aims to increase self-service capabilities and personalize traveler offerings. The collaboration aligns with Oman Air's upcoming integration into the Oneworld Alliance by 2024.
Sabre Corporation (NASDAQ: SABR) and BCD Travel have entered a long-term strategic partnership aimed at significantly growing GDS bookings. This collaboration will focus on co-investment in advanced technologies to enhance efficiency and adapt to evolving market demands. Key objectives include leveraging cloud migration and AI innovations to transform travel distribution and provide improved traveler experiences. The partnership underscores Sabre's commitment to fostering BCD's operational capabilities while responding dynamically to post-Covid travel complexities.
On October 25, 2022, Sabre Corporation (NASDAQ: SABR) announced a new partnership with MyStays Hotel Management. This collaboration aims to enhance MyStays' global reach, focusing on attracting international corporate guests. Utilizing Sabre's SynXis platform, MyStays can showcase its inventory to hundreds of thousands of travel agents worldwide, significantly expanding its distribution. With over 100 hotels across Japan, MyStays has aggressively expanded its portfolio, opening 20 new locations in the past two years, capitalizing on Japan's easing travel restrictions.
Sabre Corporation will host a live webcast of its Q3 2022 earnings conference call on November 2, 2022, at 9:00 a.m. ET. The event will discuss financial results and provide a forward outlook. Investors can access the webcast through the Investor Relations section of Sabre's website.
Sabre operates a leading technology platform for the global travel industry, managing over $260 billion in travel spend annually and serving customers in more than 160 countries.
Sabre Corporation (NASDAQ: SABR) has announced the election of Rachel Gonzalez to its board of directors, effective October 20, 2022. Gonzalez, a former executive at Sabre, brings extensive business, legal, and governance expertise. She previously served as executive vice president and general counsel at Starbucks, overseeing legal affairs and compliance. Her election increases Sabre's board size to 11 directors. CEO Sean Menke expressed enthusiasm for Gonzalez's return, highlighting her unique insights and experience from her previous tenure at the company.
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